Medicaid Annuities and IRAs: How to Handle Retirement Accounts in Medicaid Planning
Presented by Dale Krause, J.D., LL.M., Krause & Associates
If you’ve ever had a client enter a nursing home, you know how difficult navigating the long-term care maze can be. For those clients who did not purchase Long-Term Care Insurance, they may be able to turn to crisis Medicaid planning to gain some financial relief. However, clients with retirement accounts pose an additional challenge.
Medicaid planning expert Dale Krause tells listeners how to handle these accounts using a Medicaid Compliant Annuity—a specialized SPIA product designed to accelerate your client’s eligibility for Medicaid benefits.
Attendees Comments:
A few comments from listeners:
Didn't really know anything about this technique so everything was new to me! The speaker had such great credentials and experience and seemed so trustworthy! Amazing how people can take an idea and run with it!
- Ronni B.
Had no idea that the Exemption status of an IRA in the Spend Down Calculations differed by State. That is a game changer for the few times I share knowledge on this topic with my clients (who are predominantly in WI where the Community Spouse's IRA is apparently exempt). Fantastic presenter.
- Boyd J.
I have always wondered how the Medicaid Annuity works. This was helpful. Most of my clients are long term, I am 74, and don't need this kind of planning, thank goodness.
- Dee H.
Most of what you hear about Medicaid planning is for people who are trying to hide assets in advance. I didn't know about this approach for urgent situations. Thanks!
- Karen K.
Interesting idea. So fact specific that it's a little hard to grasp everything, but at least if you have a client with an LTC event and some assets, it should make you pause and consider whether the MCA is an option.
- Dean J.
Didn't really know anything about this technique so everything was new to me! The speaker had such great credentials and experience and seemed so trustworthy! Amazing how people can take an idea and run with it!
- Ronni B.
Had no idea that the Exemption status of an IRA in the Spend Down Calculations differed by State. That is a game changer for the few times I share knowledge on this topic with my clients (who are predominantly in WI where the Community Spouse's IRA is apparently exempt). Fantastic presenter.
- Boyd J.
I have always wondered how the Medicaid Annuity works. This was helpful. Most of my clients are long term, I am 74, and don't need this kind of planning, thank goodness.
- Dee H.
Most of what you hear about Medicaid planning is for people who are trying to hide assets in advance. I didn't know about this approach for urgent situations. Thanks!
- Karen K.
Interesting idea. So fact specific that it's a little hard to grasp everything, but at least if you have a client with an LTC event and some assets, it should make you pause and consider whether the MCA is an option.
- Dean J.
Didn't really know anything about this technique so everything was new to me! The speaker had such great credentials and experience and seemed so trustworthy! Amazing how people can take an idea and run with it!
- Ronni B.
Had no idea that the Exemption status of an IRA in the Spend Down Calculations differed by State. That is a game changer for the few times I share knowledge on this topic with my clients (who are predominantly in WI where the Community Spouse's IRA is apparently exempt). Fantastic presenter.
- Boyd J.
I have always wondered how the Medicaid Annuity works. This was helpful. Most of my clients are long term, I am 74, and don't need this kind of planning, thank goodness.
- Dee H.
Most of what you hear about Medicaid planning is for people who are trying to hide assets in advance. I didn't know about this approach for urgent situations. Thanks!
- Karen K.
Interesting idea. So fact specific that it's a little hard to grasp everything, but at least if you have a client with an LTC event and some assets, it should make you pause and consider whether the MCA is an option.
- Dean J.